Price moves sideways in between the S/R Lines mostly.
Buy and Sell Signals are based on normal P-SAR settings however this S/R must be considered. Please be aware that the indicator cannot be used as a stand alone. Please make required confirmations before going into action.
Disclaimer: Please use it at your own Risk.
Added MTF Support for SAR S/R
EMA Lines Plotted for Confirmations
* By Plotting SR lines by 10 candles, this SR Cloud acts as a Parabolic SAR S/R using previous 10 candles. Its easy to take trades in sideways market.
* During Sideways Candles swing between the Hi and Low of the Cloud.
* Plot from Higher Timeframe provides extra Support.
I have used offset=10 and timeframe=15 on a 5min chart for demonstration
*Avoid Trades when price moves into the cloud.
* Working is similar to inchimoku cloud. But here we use Parabolic SAR to provide dynamic support and resistance.
*stop loss can be placed below the candles first line of the cloud.
* take profit can be the projected cloud which acts as S/R
Please make sure you use HA candles that provides extra confirmation of trend
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.